KiwiSaver membership percentage growth rates rises

Percentage growth rates for KiwiSaver membership show rising trend over March quarter

Monthly percentage growth rates for KiwiSaver membership categories show rising trends for the first quarter of 2010, according to research by default KiwiSaver provider TOWER Investments.

“The usual focus on membership growth is on raw numbers of people who have elected to enter or remain in KiwiSaver,” said Sam Stubbs, Chief Executive Officer of TOWER Investments.

“However, raw numbers can disguise significant underlying trends.”

“Also informative are percentage changes in monthly membership growth rates.”

“Monthly percentage growth rates for net total membership and its subcategories opt-in via provider and opt-in via employer hit bottom at the end of December 2009 after falling across most of 2009.”

“The automatic enrolments subcategory bottomed out in September 2009 by the same measure.”

“Since the beginning of 2010, all four KiwiSaver membership categories have grown by increasing percentage amounts.”

“This is encouraging considering the global financial crisis background of recession, household belt tightening, and rising unemployment.”

“It suggests the message about the need for Kiwis to commit to personal retirement saving is gathering a momentum of its own despite tough current economic conditions that might otherwise persuade people to put off the commitment.”

ENDS

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